Her name means "wise" or "graceful".
Snorri Sturluson tells us that she is wise and noble. He also says that from her name comes the adjective snotr that means "wise".
... multiplex congenita Arthrogryposis ophthalmoplegia retinopathy[?] Arthrogryposis renal dysfunction cholestasis syndrome[?] Arthrogryposis spinal muscular atrophy[?] ...